Leeds’ Dubai owner says studying investor offers

Dubai, April 1, 2013

GFH Capital, the unit of a Bahraini investment firm that bought Leeds United in December, is studying several offers from investors for stakes in the English soccer club, the Dubai-based firm said on Monday.

Last week, Bahrain-based International Investment Bank bought a 10 per cent stake in the club as part of GFH Capital's strategy of bringing in additional investors to develop the Championship (second division) club.

"GFH Capital has received several offers from a number of investors, which are currently being studied and evaluated," GFH Capital's parent company Gulf Finance House said in a filing to the Dubai stock exchange.

The statement added that the sale of any stakes in Leeds United were part of the company's investment strategy and not a sign of a weak financial position.

There was confusion over the future of the club when it emerged last week that Gulf Finance House had said in its annual report that the club was already up for sale again.

Gulf Finance House has been forced into a number of debt restructurings since 2010 as it struggled with its debts in the aftermath of the global financial crisis.

It completed a takeover of the club in December in a deal reportedly worth 52 million pounds ($79 million)

Leeds United currently sits 11th in the 24-team Championship, having won just one of their last seven league games. – Reuters